Cornerstone Investment Partners LLC Reduces Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Cornerstone Investment Partners LLC lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,403 shares of the company’s stock after selling 830 shares during the period. AutoZone makes up approximately 3.1% of Cornerstone Investment Partners LLC’s holdings, making the stock its 15th largest holding. Cornerstone Investment Partners LLC owned approximately 0.12% of AutoZone worth $62,128,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of AutoZone during the third quarter valued at approximately $36,000. Darwin Wealth Management LLC purchased a new position in AutoZone during the 3rd quarter valued at $47,000. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter valued at $61,000. McIlrath & Eck LLC grew its position in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in AutoZone in the third quarter worth $66,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

AZO stock opened at $3,471.00 on Tuesday. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,519.00. The firm has a market cap of $58.25 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.86 and a beta of 0.70. The firm has a 50-day simple moving average of $3,341.31 and a two-hundred day simple moving average of $3,219.44.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $32.55 earnings per share. As a group, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the subject of a number of recent analyst reports. Argus boosted their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. Barclays boosted their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Mizuho raised their target price on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. TD Cowen boosted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Guggenheim increased their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,442.61.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.